We weren't doing business with BoA when we first shared ownership of the Ranch. In fact, the original papers were owner-financed by the person we purchased the land from. That individual sold the mortgage to a brokerage, which sold the mortgage to another brokerage, which bundled the property in with a batch that then was sold to a bank in Miami.
Which promptly sent us a letter requesting payment in full on the empty property.
They actually proved to be quite accommodating when we called them to explain that the property no longer stood empty (it was, when we purchased it), we now lived on it. However, a couple years after that we re-financed through a local, state-level bank.
Five years after that, local state-level bank merged in with a larger regional bank.
Two years after that, larger regional bank merged with BoA.
So, we never once moved, and our mortgage processed through four banks. Now, neither the no longer existing banks nor the big one can tap us and say move along. This small part of North Central Baja Jorja is ours.
Tonight, there are chocolate chip cookies in celebration. And ice cream. Yes.
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